Junk Silver Coins

Junk silver refers to old US coins that contain 35, 40, or 90% silver. The United States once used silver in all their coins (except the penny) because of the low price and the physical qualities of silver. When the price of silver increased, the US decided it was too expensive to use in circulating currency.

Investors now keep their eyes open for any US coin that was minted prior to 1965. Dimes, quarters and half-dollars minted before 1965 may contain 90% silver. These coins are highly sought because they maintain their worth as US currency, making them cheap to buy and own. Junk silver offers investors a low cost way to start investing in silver.

Silver Content

Most people think that junk silver is just that – junk. However, they would be surprised to know that junk silver is a very wise investment, and no different than any other silver investment. What the coins look like does not matter, the silver content is what is wanted. Junk coins may contain anywhere from 35% to 90% silver, making them highly desirable coins to own.Those wise people who have purchased these silver coin realize that they got the bargain of a lifetime. How often can you purchase a coin for face value, and that coin yields more silver content than the cost of the coin? Junk silver is anything but junk.

Pieces of History

Junk silver is truly American history. Think about it, these coins have been in circulation for over 40 years and they still look good. They might show some signs of wear and tear, but they are still in use. This just shows that American coins have a long life due to their durability. There are not many silver coins that have relevant history behind them like the American junk silver coins.Finding these rare coins now is a wonderful way to begin your silver investments.

90% Silver Coins (Dimes, Quarters, Half-Dollar, Dollars)

These are the most popular junk silver coins. Each one was minted before 1965 and contains 90% silver. When you purchase a bag of junk silver you will receive an assortment of dimes, quarters and half-dollars. There is no way of knowing how many of each coin you will get, but you can be sure they will all have a 90% silver content.

Dimes

40% Silver Coins

Every Kennedy Half Dollar contains 40% silver. Minted between 1965 and 1970, finding these coins now is like finding a rare treasure.

Wise Investors Buy Junk Silver

Inflation is causing the American paper dollar to lose value, while increasing the value of junk silver. As hyperinflation rises, owing these coins in the event of widespread hyperinflation could end up being a personal blessing. Many investors might look at the word “junk” and lose interest; however, these bags of US junk silver are far more valuable than the name “junk” implies. The only losers in junk silver deals are those that won’t buy because they are clueless about the name.

When You’re Ready to Buy

As always, Augusta Precious Metals offers rock-bottom prices with guaranteed fast and free shipping – there are no hidden fees.

Augusta does not provide legal, tax, or investment advice. The Augusta® Depository Gold IRA is a self-directed IRA containing physical precious metals administered by a third-party custodian and stored in a non-government depository storage facility where investors can make an appointment to see their precious metals. The Augusta® Home Delivery Gold IRA is a self-directed physical precious metals IRA delivered to your home. Some investors choose to store IRS-approved American Eagle gold or silver in an IRA in their homes. However, it is wiser to store all metals in a safe deposit box at a U.S. bank. If investors sidestep rules or mishandle account assets (e.g., setting up the IRA improperly, engaging in a prohibited transaction, such as withdrawing metals before retirement to use for any other purpose, etc.), or if it is determined that home delivery or home or bank safe deposit box storage are not permitted by the IRS, the investor could lose tax-exempt status and have to pay taxes and penalties. There is no clear IRS guidance on the legality of the home delivery IRA structure or home or safe deposit box storage, and the IRS is under no obligation to issue guidance on whether home or bank safe deposit storage satisfies IRS requirements and may, at any time, audit an IRA, declare that home or bank safe deposit box storage does not satisfy IRS requirements, and impose taxes and penalties on the IRA owner. It is important to consult your own legal and financial advisors before opening a home delivery IRA from Augusta, and then work with your advisors to decide where to store your precious metals. As with any investment, past performance might not predict future returns. The price of precious metals fluctuates over time and investors might lose money.

Michael Dallo, CPA, JD, LL.M. is a tax attorney and certified public accountant (CPA) of Dallo Law Group, a Professional Corporation. For over 10 years, Michael has zealously represented hundreds of clients in resolving tax disputes with the Internal Revenue Service and California taxing agencies, as well as developing sound tax positions and arguments to minimize their federal and state tax liability.